Jernbro to acquire Veolia Industries.

Jernbro, that provides industrial services, will acquire Veolia industrial maintenance operations, that is the part of Veola Environnement. Financial terms were not disclosed. The acquisition of Veolia’s industrial maintenance business is part of Jernbro Industrial Services’ growth strategy. Jernbro is now a market leader and a complete supplier of maintenance services in, among other things: mechanics, electricity and automation as well as energy efficiency for the industry. The acquisition means that Jernbro has reached a total turnover of SEK1.4bn ($153m). “Industrial maintenance is outside Veolia’s core business and lacks the critical mass to stand on its own. In Jernbro we have found a new long-term owner who has all the prerequisites to develop the business to the next level. Jernbro is a player who can incorporate the business in a natural way, which is why I am pleased that we have been able to reach this agreement,” Håkon Vist, Veolia Norden CEO.